Forex Flash: EUR/USD medium-term bearishness prevalent – RBS

FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, "There is now a medium-term bearish picture developing for the EURUSD in the hourly charts too; not this pattern that is toying with its neckline around the 1.3015 level - the projected target from the breakout looks to be down to at least 1.2771. The stop loss would need to be above the right hand shoulder at the 1.3137 level, so the risk/return works quite well."